Strategies employed are effective and ineffective at various cycles in the market.You might find something was highly effective years ago, then goes to somewhat effective, then goes to barely effective because the market dynamic has changed.

If it's only one, how likely could that industry tank, meaning leaving the market/state for bare?

Just because nobody else that participated in the auction thought so doesn't mean it isn't worth more than your top bid.Grab your deal and add another property to your portfolio.

They obviously would be the ones doing the contract work since you are a minor but this would still allow you to gain the knowledge and participate instead of having to wait until you're 18.

TARP is a US Government program that is not open for participation any longer.

After doing some more digging, I think the ARV could get up to about $350k, but there are still a lot of unknowns regarding the illegal addition and height of the ceilings in the basement. 7 feet is the minimum here in CA and those ceilings were right at 7 feet with bare concrete.

The liability extended from the HO policy may not include OL&T coverage that could leave you bare for claims against wrongful eviction, etc.

At 142, I'm coming up with about a 7% return, which I don't think is enough:Purchase Price: 142,000Down (25%): 35,500Closing: 3,000Misc: 1,000Seller contribution to closing (2%): -2840Total cash invested: 36660Gross income: 18000Expenses@50%: 9000NOI: 9000Debt service (4.5% for 30 yrs): 6475 (540/month)Cash flow: 2524 (210/month), or about 6.9% COC.At 130K, the return goes up to about 9.1%, which I'd consider to be just barely in the ballpark.I know what you mean about the Dallas market.

I grew up in a duplex near railroad tracks and had an office in downtown Sacramento near tracks... you adapt to it easily and after about 30 days you barely notice it.

I attended the seminar, I was there 45 minutes before so I was the first one there, I had been up all night waiting for it so I barely slept, I had my notes and pads ready for any info that was given.